President Jonathan has announced the suspension of the Central Bank of Nigeria, Mallam Sanusi Lamido Sanusi.
The statement reads thus
Having taken special notice of reports
of the Financial Reporting Council of Nigeria and other investigating
bodies, which indicate clearly that Mallam Sanusi Lamido Sanusi’s
tenure has been characterized by various acts of financial recklessness
and misconduct which are inconsistent with the administration’s vision
of a Central Bank propelled by the core values of focused economic
management, prudence, transparency and financial discipline;
Being also
deeply concerned about far-reaching irregularities under Mallam
Sanusi’s watch which have distracted the Central Bank away from the
pursuit and achievement of its statutory mandate; and
Being
determined to urgently re-position the Central Bank of Nigeria for
greater efficiency, respect for due process and accountability,
President Goodluck Ebele Jonathan has ordered the immediate suspension
of Mallam Sanusi Lamido Sanusi from the Office of Governor of the
Central Bank of Nigeria.
President
Jonathan has further ordered that Mallam Sanusi should hand over to the
most senior Deputy Governor of the CBN, Dr Sarah Alade who will serve as
Acting Governor until the conclusion of on-going investigations into
breaches of enabling laws, due process and mandate of the CBN.
The
President expects that as Acting Governor of the Central Bank, Dr. Alade
will focus on the core mandate of the Bank and conduct its affairs with
greater professionalism, prudence and propriety to restore domestic and
international confidence in the country’s apex bank.
The
Federal Government of Nigeria reassures all stakeholders in Nigeria’s
financial and monetary system that this decision has been taken in
absolute good faith, in the overall interest of the Nigerian economy and
in accordance with our laws and due process.
Reuben Abati
Special Adviser to the President
(Media & Publicity)
February 20, 2014
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